India and Seychelles today agreed to work together on a project to develop a naval base at the Assumption Island keeping each other’s concerns in mind after talks between Prime Minister Narendra Modi and President Danny Faure, reported PTI news agency.

“We have agreed to work together on Assumption Island project based on each other’s rights,” said PM Modi today after a meeting President Danny Faure of the Seychelles who is visiting India.

The project will give India a strategic advantage in the Indian Ocean Region,.

“India and Seychelles are major strategic partners. We respect the core values of a democracy and share the geo-strategic vision to maintain the peace, security and stability in the Indian Ocean,” added Modi.

Faure concurred with the PM.

“Assumption Island project was discussed, we are equally engaged and will work together bearing each other’s interests,” he said.Faure also commended PM Modi for his “visionary understanding” of multilateral trade negotiations and security and defence.

“Under the leadership of PM Modi, India has a visionary understanding of what’s at stake, especially in terms of security and defence, and to address the challenges of our time when it comes to climate change, multilateral trade negotiations and bridging gaps of inequality,” said Faure after the meeting with Modi.

The PM also announced today that India has given $100 million dollars to Seychelles on credit for its defence sector. The two countries also signed six MOUs.